India’s Department of Telecom is seeking to invest Rs68.3bn (US$1.5bn) into struggling equipment maker Indian Telephone Industries (ITI), according to the Economic Times.
The local newspaper explained that the DoT has already pumped Rs40bn (US$869m)…
India’s Department of Telecom is seeking to invest Rs68.3bn (US$1.5bn) into struggling equipment maker Indian Telephone Industries (ITI), according to the Economic Times.
The local newspaper explained that the DoT has already pumped Rs40bn (US$869m) into the company to try and turn it around and has, also tried to sell it several times.
According to recent reports the telecom department was also examining proposals by the Board for Reconstruction of Public Sector Enterprises (BRPSE) to merge ITI with state-owned telcos Banat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL).
A decision has yet to be reached.
